Burford Capital Share Discussion Threads

[bogman1] 17/2/2021 08:36

Why has this not mirrored the US rise?

[bogman1] 16/2/2021 21:28

I dunno Donald. I have yet to meet a lawyer I trust tbf and I have had plenty of practice. But I hold here and see it finished up 12.5% across the pond.. somebody somewhere know something. Great news though. Hopefully the impetus and publicity it needs

[donald pond] 16/2/2021 20:47

Has something leaked? I doubt it. Burford has always been a very tight ship. We've had plenty of cases of great results that were preceded by a lacklustre share price. They are lawyers, they know how to keep things confidentialBut after last results share price went up to around £8 and I don't think anyone expects business to have gone backwards so the chance to buy at £6 last week was clearly a gift

[williamcooper104] 16/2/2021 20:21

Agreed - no reason to not do it when both markets are closed

[williamcooper104] 16/2/2021 20:21

US hours are a lot more sociable Hate the withholding tax though

[gettingrichslow] 16/2/2021 20:01

The bigger question for me is what has already been released given the sharp movement in the last few hours? Something has leaked out surely?

[ceaserxzy] 16/2/2021 19:53

gsk has been doing exactly that for ages, releasing their quarterly results at 12:30 UK time. What is the problem?

[time_traveller] 16/2/2021 19:51

I agree, but I think the distinction is where the main listing is, and burford claim its main listing is now NYSE.

[kirkie001] 16/2/2021 19:44

I fail to see why it's not being released at 7am. As far as I'm aware, most dual listed companies do that (bar HSBC, which I think do 8am or 9am...).

Being released at 7am, when both markets are closed, would surely be better than holding onto it for 5 hours, when it's available, and then releasing it, when one market is closed and another is open?

I'm not certain how this meets the test of "releasing market sensitive information without undue delay"? It IS being delayed; until noon.

[tradertrev] 16/2/2021 19:28

Per the RNS advising of trading update "The decision to adjust the time of day for disclosure of business updates and financial results has been taken following the commencement of trading of Burford shares on the New York Stock Exchange. This will provide Burford's investors in both North America and Europe with access to disclosure at reasonable hours. In the future, it is expected that such scheduled disclosure will continue to be released at midday in London, subject as usual to the relevant regulatory requirements of each jurisdiction in which Burford's equity and debt securities are listed."
It is not the case that US investors get some great advantage by being able to "digest the news before the market opens". The market in London will be open and US investors can deal here. In any event, the price at which the stock opens on NYSE will reflect some 2.5 hours trading in London post the announcement. I see no unfairness here except perhaps some trigger-happy day traders might react incorrectly on some headline, when a pause for reflection might have been a better course. They can look after themselves I'm sure!

[lazg] 16/2/2021 18:59

@pod: Got you.

[podgyted] 16/2/2021 18:46

LG - that's not my point - don't care to a large extent where it trades.

My concern is it is releasing very price sensitive information into a live market and its main market for that matter. Expect chaos - 'cos what is for certain is BUR's TU is extremely unlikely to be "in-line".

[lazg] 16/2/2021 18:05

I think it is not surprising that they would not prioritise the UK. I welcome that. And anyone here can trade in the US as well, so no harm done. Being from continental Europe, I like trading in the US as it allows me to do so after work.

[time_traveller] 16/2/2021 17:46

Well, the UK does feel like second fiddle these days.. while they skip out on the usual NYSE duties like quarterly reporting - having their cake and eating it?

[gettingrichslow] 16/2/2021 16:40

Now up 14% in the US!

[scepticalinvestor] 16/2/2021 16:39

not unlike your mum?

[warno01] 16/2/2021 16:34

We might be looking at a gangbusters statement based on today's rise. Can't be anticipation, surely more substantial. Biggest holding so fingers crossed. Great statement should see pushing through 750 and hopefully through 780 (key resistance levels). Last half hour is very unlike Burford share movement.

You have to think that after 6-9 months of little news other than SEC filing, then it needs to be strong. Would anticipate seeing a rise in deployments, but also some strong returns (considering the Volkswagen/Audi case for example)

[williamcooper104] 16/2/2021 16:26

Could do - looking forward

[bramcych] 16/2/2021 16:26

They haven't left it late as preliminary results will be issued at 12:00 GMT tomorrow due to US listing!

[podgyted] 16/2/2021 16:26

Midday TU tomorrow will be interesting. Currently according to the above BUR is £7.55 in the States

[hatfullofsky] 16/2/2021 16:24

Wow - talk about leaving it late !!!!

[rar100] 16/2/2021 16:17

william, they may come out with a gangbusters statement....they might do...and not be true to form.

[gettingrichslow] 16/2/2021 16:09

It’s popping right now - up 8% in New York!